Distance MBA?

[apk]

APK - I would have loved to do this but never had the guts to take the plunge. Bounded by EMIs/Kid/family, not everyone can afford to do this. But as I said earlier, nothing can replace the experience of a full-time MBA. The other larger debate is - do we really need MBA to be successful in life

Most of the folks in my batch of 80 odd students had 10+ years of experience, kids, home loans and what not. Yes, it is definitely a great leap of faith, but one that is quite rewarding - both in terms of the learning experience and in terms of the job opportunities that you get during campus placements. I have got opportunities, and will definitely get opportunities which would have been closed to me without the MBA.

Do you really need an MBA to succeed in life? - no, not really (read Reshmi Bansal's 'Connect the Dots' for further inspiration), but there is no denying that an MBA from a good institute opens some doors for you. It helps you get your foot in. After that, how much you progress depends upon your abilities!

Thanks. Agree 100% with your views and appreciate it.

More people giving similar suggestion really makes me to think of full time. But my job is currently very important for me so there's no question of quitting it and spending big money on a course. Yes I know it can make huge difference to my future but my regular income cannot stop for more than 4 months. Over and top of that, a fat fee is something I cannot afford. I don't like to take loans, 'personally'. That is why I was searching for something simple and affordable but adds a little shine to my profile. In short, I am just looking for some peanuts for hunger, not cashew nuts for nutrition.

Santy......the part time options in India are hardly recognized by employers and will give you very little benefit/leverage for your next job/promotion. If cost is a factor, there are some programs (IIMC, XLRI GMP, SPJAIN) which are less expensive than the others (IIMA, IIMB, ISB)

Best,
APK

 

[rikhi22s]

Don't worry about the PGDBM stuff. It is equivalent to MBA. For that matter, even IIM full-time course fetches you a PGDBM only and not a MBA
Nonetheless, I will check my wife's cetificate and let you know what is written on that (she did it from SCDL few years ago)

Just checked and you are right - SCDL gives a PGDBM but as I mentioned earlier, there is nothing to worry about it.

 

[rikhi22s]

Most of the folks in my batch of 80 odd students had 10+ years of experience, kids, home loans and what not. Yes, it is definitely a great leap of faith, but one that is quite rewarding - both in terms of the learning experience and in terms of the job opportunities that you get during campus placements. I have got opportunities, and will definitely get opportunities which would have been closed to me without the MBA.

Another calculation that stopped me taking the leap of faith is the ROI:

Suppose my current CTC is 20 LPA and I spend another 20 lacs for the course. Additionally, I would be paying another 10 lacs as interest while repaying the loan. So, the total investment is approx. 50 lacs. Not sure how many years would I take to break-even

 

[sud98]

If you cannot quit your job, then the IIMC exec MBA ESP. The ones for 10 yr experience (I think it's mid or sr level exec). It's good in content although very tough on personal life. I had two people in my company do it and gain positive results. I think more than anything it gave them the confidence to achieve more in their career.

When I compare my full time MBA versus the part time, the big difference was the kind of classroom learning and bonding that forms which is always useful. But if you can't quit, then this is the best option. But do it for building your knowledge and confidence. However, don't expect a significant change in salary or job profile.

 

[apk]

Another calculation that stopped me taking the leap of faith is the ROI:

Suppose my current CTC is 20 LPA and I spend another 20 lacs for the course. Additionally, I would be paying another 10 lacs as interest while repaying the loan. So, the total investment is approx. 50 lacs. Not sure how many years would I take to break-even

You are right that if you look at an MBA now (i.e after 10+ years of work) from a pure ROI point of view, you may not find the investment feasible. Having said that, there are a few things about an MBA that can never be explained with numbers:
- you should never regret sometime later in your life that you did not have an MBA
- the brand value from a top MBA college will last with you for life
- the above said 'brand value' can open doors for you which you may not have access to with your current profile. I have personally experienced this
- the 'network' that you create during your B-school days will last with you for life and will consist of a group of well placed folks. You can always reach out to your B-school mates for references, job opportunities, etc
- Consider a scenario, say 15 years down the line. Two equally capable candidates - you and another colleague are vying for a top post. You do not have an MBA and your colleague has. All other factors being equal, who do you think the management will choose for the top post?
- If, as per your normal career graph, you were to reach a certain position in say 25 years, the MBA will give you a spike in your career graph and will probably help you get there in 20 years (I am just using these numbers here as an example)

I am not trying to say that an MBA is a must for success. But the value of a good MBA can never be measured in terms of just numbers! All of what is I said above is still applicable for someone doing an MBA after 10 odd years of working.

Best,
APK

 

[ghatgepatil]

Whatever be the case, whether you choose to go for any reputed MBA course or not, be very clear on the most important aspect of this vicious circle or should I say, rat race ie. your own 'visibility', your own capability in whatever you do and the most crucial thing of 'managing' the people around you including your immediate boss.

If the 'boss' is not in the same pedestal, then, no matter what fancy qualifications you possess, everything comes tumbling down. You give me the feeling that somehow you are frustrated with your current responsibilities, your work profile and so on.

Would it not be a more practical approach if you seek a job change, some different company with a different product line in the lines of your experience? Yes, a full time MBA would allow you to increase your foot-print drastically BUT, believe me, there is never a short-cut to 'on-the-job' experience a go-getter can achieve than attending mere class-room lectures. Networking can be judiciously developed over time, and so can 'visibility' too!

Of course, you would need to wait out the current down-turn. All said and done, to choose a right firm with the right people and a right product line is a Project in itself. Would require a good amount of study with a dogged mindset.

 

[anm]

I always wanted to go for full time 2 year course, but no salary for 2 yrs is one big deterrent. I am now thinking about 1 yr courses. what are the top colleges for 1 year MBA? Do all need GMAT to gain an entry, even for folks with 10+ yrs of experience?

 

[apk]

I always wanted to go for full time 2 year course, but no salary for 2 yrs is one big deterrent. I am now thinking about 1 yr courses. what are the top colleges for 1 year MBA? Do all need GMAT to gain an entry, even for folks with 10+ yrs of experience?

I have listed some of the top colleges for 1 year full time MBA in India in my post earlier (post #14 on page 2) on this thread. And yes, you do need to do the GMAT for an entry to most of these programs. However, the admission process looks at your profile as a whole (including references, work experience, essays, interview, past academic record & GMAT score), and not on just one aspect.

Best,
APK

 

[sud98]

I always wanted to go for full time 2 year course, but no salary for 2 yrs is one big deterrent. I am now thinking about 1 yr courses. what are the top colleges for 1 year MBA? Do all need GMAT to gain an entry, even for folks with 10+ yrs of experience?

When you mention top colleges, you mean in India, then its listed in this thread?
If you are looking at abroad then the most popular 1 yr
Europe - INSEAD, ESADE
UK - LBS, Manchester
Singapore - INSEAD,SMU

 

[anm]

yes - top 10 global by your experience. Even in the US. Of course such lists exist by various magazines. Cost of living in the US could be very high though - but maybe it's going to be even higher?

 

[anm]

social work - 0
past academic records - only slightly better than zero.

 

[sud98]

US AFAIK doesn't offer 1 year courses (only 2 year).

Europe its generally 1 year programs.

The good part of a 1 year program is the reduced costs, but the bad part is that it leaves you very little time to network to get a job esp. in recessionary times. Do note that unlike in India you need to work to get a good job

 

[apk]

Europe its generally 1 year programs.

The good part of a 1 year program is the reduced costs, but the bad part is that it leaves you very little time to network to get a job esp. in recessionary times. Do note that unlike in India you need to work to get a good job

You are quite right. The way an MBA finds a job in Europe (or for that matter in the US also) is very different from the way an MBA finds a job in India. Generally, in India, we are a spoilt lot because companies line up on campus to recruit you. In Europe, the B-school facilitates interaction between the company and you, ie. it organizes networking events such as speaker series, industry meets etc, where the students are expected to actively 'woo' potential employeers. Such interactions with organizations may spread over a few months before the company makes you an offer.

Best,
APK

 

[GeorgeO]

Interesting thread, I followed this on and off in the US, some good advice. I'm an old time MBA myself(XLRI 75) with two sons, living and working in the US who are also looking at B School options, facing a similar situation, and we have been debating this subject in some depth recently. Doing a fulltime two year programme has both costs and loss of income to be factored in, though costs here are a fraction of the US costs-typically $125-150.000.

Speaking to friends who teach at BSchools there, their view is that part time or EMBA options there are good options, to reduce the possibility of the glass ceiling that a non MBA may eventually face.

Ultimately each one has to decide what works best, but a visit to any of the BSchools on your shortlist is a good beginning for you to assess what they have to offer you.

 

[GeorgeO]

I meant that there is some good advice already offered on this thread by earlier posters.

 

[asliarun]

In my humble opinion, the world is very rapidly moving towards super specialization and I often wonder how relevant an MBA degree is anymore. It is simply too broad based to be of much value in the real sense.

I often wonder why people ignore other things that can provide a big career boost such as industry certification, or honing one's skill in a specific trade or craft, or retraining oneself to learn a new craft. That would be a far more rewarding thing to do at so many levels, not just from a perceived career growth.

Career growth, monetary compensation should be byproducts of the work that one does, not the other way around. This doesn't mean that I'm a shining example, and I most certainly am not, but I do feel this way.

At any rate, being a generalist in today's world only works if you are in mgmt consulting or at a very senior level to begin with. For everyone else, what really makes you employable is your depth of expertise in a specific field or function, no matter how narrow or even unglamorous it might be. If you are indeed an expert but are still treated poorly, it means you need to change your employer, not your profession or your degree.

 

[GeorgeO]

I agree with some of your views, but you also need to factor in the fact that the top MBA institutions are a ready made talent filter for recruiters. BSchool alumni also tend to favour their own kind.

In the end what you have done in the past few years( and not your degree) is probably what will make your interviewer decide if you are the right candidate.

 

[asliarun]

I agree with some of your views, but you also need to factor in the fact that the top MBA institutions are a ready made talent filter for recruiters. BSchool alumni also tend to favour their own kind.

In the end what you have done in the past few years( and not your degree) is probably what will make your interviewer decide if you are the right candidate.

Yes, without a doubt, a good MBA program will give someone a huge career boost - arguably the kind of boost that no other academic program can. However, this value falls off a cliff if you go below a B-school that is say, not even in the top 20. For example - the value of a b-school diploma from a school ranked say 40th in India is less than zero and is in fact a seriously bad career choice. As far as online or correspondence diplomas are concerned - well...

I have interviewed a large number of software developers who had an MBA degree - and in every case, I found the same pattern - people who like to fill their resumes with (what they perceive to be) trendy sounding buzzwords or degrees or certifications. Ask them a meaningful or practical question - and in almost all the cases, the responses are pathetic. I'm not talking about esoteric questions that an expert would know - I'm talking about basic skill level stuff - fundamentals, and such.

Now correlation is not necessarily causation, and I also know very bright and motivated professionals who have done an MBA and have done really well in their career. However, when I see resumes with random MBA degrees thrown in, it sends me a huge negative signal - that this belongs to someone who does not have focus and clarity in terms of what they want to do in their professional lives. Either that or they did not have the skills or initiative or risk taking attitude to get a better MBA degree. Either way you look at it, the resume would have been better off without the no-name MBA.

Someone else also commented that their "opportunity cost" (lovely buzzword - that) was 50 lakhs because their current salary was 20L - and they wondered how long it would take to recover from this.

A couple of observations - firstly, the notion of opportunity cost - the way B-schools like to calculate it - is completely incorrect. No, you are *not* losing 20L in a year because you did not work and studied a 1 year MBA instead. You would only lose 20L if you actually *save* 20L a year in your current job, which most people aren't. In real life, from whatever I have seen, you spend as much as you earn and you justify it to yourself by convincing yourself how stressful your job is, and why you need to spend so much money on maids and cars and expensive apartments and what not.

The second observation is that the baseline requirement for an MBA is running a business which means being entrepreneurial, which means the ability to take risks. If you are going to avoid an MBA because you are risk averse to make the high short term investment (vs the possible long term payoff), you should ask yourself the question if an MBA degree is the right thing to do to begin with.

Honestly - I don't mean to sound rude or offensive especially to others who opted these career choices. I can only imagine how I would feel if the shoe was on the other foot. But I do believe in calling a spade a spade - and this mania over B-schools and filling up resumes with buzzwords has gone to a ridiculous extent. Despite what you might hear, the quality of real talent in the talent pool is actually atrocious. I have to look at 100+ resumes (that are already filtered) to find someone who even knows their fundamentals. And trust me, things will remain this way for a long time - mainly because of the "bhed-chaal" attitude that everyone has.

 

[MZB]

All good employers today have weightage calculators for experience / degree - full time , part time, distance / industry exp to come to conclusion on band / salary to offer . Weightage on lesser known institute is very less . And for part time and distance it is almost negligible .
For Internal growth in some of the fields like sales / marketing / operations , degree is not a constraint . It is all about skills, competency and knowledge & ofcourse perception . I have seen many IIM guy's struggling for growth while many a Non MBA guy make it to the top .
If you really wish to add value to your CV , get into executive programs offered by top institute .
But nothing like getting into TOP 10 institute of US / UK through GMAT. You could get education loan for top institutes and once you are done with the course , sky is the limit. You will get offers you would not even dream off today after passing from such institutes.

 

[rikhi22s]

Someone else also commented that their "opportunity cost" (lovely buzzword - that) was 50 lakhs because their current salary was 20L - and they wondered how long it would take to recover from this.

A couple of observations - firstly, the notion of opportunity cost - the way B-schools like to calculate it - is completely incorrect. No, you are *not* losing 20L in a year because you did not work and studied a 1 year MBA instead. You would only lose 20L if you actually *save* 20L a year in your current job, which most people aren't.

I don't agree to it as you will surely be losing the earning potential of 1 year and that will be whatever is your salary. The other fixed cost like housing loan, fees for kids, car loan will continue as outflow for the 1 year that you are at the business school.

The second observation is that the baseline requirement for an MBA is running a business which means being entrepreneurial, which means the ability to take risks. If you are going to avoid an MBA because you are risk averse to make the high short term investment (vs the possible long term payoff), you should ask yourself the question if an MBA degree is the right thing to do to begin with.

Not necessarily. Not every MBA aspires to be an entrepreneur. I also know of MBAs from the premier B-schools (IIMA and ISB) who are just doing average in their career so doing an MBA from the top B school itself does not guarantee a long term pay-off.